Nordea Investment Management AB sells 950 shares of Xerox Holdings Co. (NYSE:XRX)
Nordea Investment Management AB reduced its position in Xerox Holdings Co. (NYSE:XRX – Get Rating) by 0.2% in the first quarter, Holdings Channel reports. The fund held 396,255 shares of the IT services provider after selling 950 shares during the quarter. Nordea Investment Management AB’s holdings in Xerox were worth $8,076,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently changed their positions in the company. State Street Corp raised its position in Xerox by 3.5% in the fourth quarter. State Street Corp now owns 4,125,586 shares of the information technology service provider worth $94,428,000 after buying an additional 138,065 shares in the last quarter. Geode Capital Management LLC increased its position in Xerox by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 1,870,446 shares of the information technology service provider worth $42,346,000 after purchasing an additional 72,693 shares in the last quarter. Invesco Ltd. raised its position in Xerox by 1.5% during the 4th quarter. Invesco Ltd. now owns 1,567,685 shares of the information technology service provider worth $35,492,000 after purchasing an additional 23,875 shares in the last quarter. Morgan Stanley increased its position in Xerox by 23.4% in the third quarter. Morgan Stanley now owns 1,495,603 shares of the information technology service provider worth $30,167,000 after buying an additional 283,573 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in Xerox by 5.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,230,275 shares of the information technology service provider worth $27,853,000 after purchasing an additional 61,075 shares in the last quarter. Institutional investors hold 87.00% of the company’s shares.
Separately, major shareholder Carl C. Icahn purchased 783,900 shares of the company in a transaction on Monday, April 25. The shares were acquired at an average price of $17.17 per share, for a total transaction of $13,459,563.00. Following the purchase, the insider now owns 34,245,314 shares of the company, valued at $587,992,041.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Additionally, major shareholder Carl C. Icahn purchased 1,346,523 shares of the company in a transaction on Friday, April 22. The shares were purchased at an average price of $16.96 per share, with a total value of $22,837,030.08. Following the purchase, the insider now directly owns 33,461,414 shares of the company, valued at approximately $567,505,581.44. Disclosure of this purchase can be found here. Insiders of the company own 1.10% of the shares of the company.
Shares of XRX opened at $15.79 on Friday. The company has a debt ratio of 0.67, a current ratio of 1.21 and a quick ratio of 1.02. The stock has a 50-day moving average of $17.57 and a 200-day moving average of $19.77. The company has a market capitalization of $2.45 billion, a PE ratio of -4.63 and a beta of 1.67. Xerox Holdings Co. has a one-year low of $15.37 and a one-year high of $24.99.
Xerox (NYSE:XRX – Get Rating) last released its results on Thursday, April 21. The information technology service provider reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.12 per ($0.24). The company posted revenue of $1.67 billion in the quarter, versus analyst estimates of $1.63 billion. Xerox had a negative net margin of 7.86% and a positive return on equity of 4.85%. The company’s quarterly revenue was down 2.5% year over year. In the same quarter a year earlier, the company earned $0.22 per share. Analysts expect Xerox Holdings Co. to post EPS of 1.21 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1. Shareholders of record on Thursday, June 30 will receive a dividend of $0.25. The ex-dividend date is Wednesday, June 29. This represents an annualized dividend of $1.00 and a dividend yield of 6.33%. Xerox’s dividend payout ratio is currently -29.33%.
XRX has been the subject of a number of recent analyst reports. Citigroup cut its price target on Xerox from $17.00 to $15.00 and set a “sell” rating for the company in a Friday, April 22 report. StockNews.com launched coverage on Xerox in a report on Thursday, March 31. They set a “holding” rating for the company. Finally, Morgan Stanley cut its price target on Xerox from $15.00 to $13.00 and set an “underweight” rating for the company in a Friday, April 22 report.
Xerox Profile (Get a rating)
Xerox Holdings Corporation, a workplace technology company, designs, develops and sells document management systems and solutions in the United States, Europe, Canada and around the world. It offers solutions for the workplace, including monochrome, color and multifunction desktop printers; digital printing presses and light production devices and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions and digitization services.
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